ICON Issues Financial Guidance for Full Year 2022

On January 12, 2022 ICON plc, (NASDAQ: ICLR), a world-leading clinical research organisation powered by healthcare intelligence, reported its financial guidance for the year ended December 31, 2022 (Press release, ICON, JAN 12, 2022, View Source [SID1234605455]). For the full year 2022, revenue is expected to be in the range of $7,770 – $8,050 million, representing growth of 43 – 46% and adjusted earnings per share is expected to be in the range of $11.55 – $11.95, representing growth of 21 – 23%, over Full Year 2021 revenue and adjusted earnings per share guidance, respectively x. Adjusted earnings per share to exclude amortization, stock compensation, foreign exchange and transaction-related / integration-related adjustments.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

CEO Steve Cutler commented, "As the world’s largest and most comprehensive CRO, ICON is well positioned to lead the market as the healthcare intelligence partner of choice in clinical development. We saw strong demand from customers that resulted in a trailing twelve month book to bill of 1.3x and total backlog of $18.6 billion at the end of the third quarter 2021. With our solid performance in 2021 coupled with continued strength in the broader industry environment, we expect growth of 43 – 46% in revenue to a range of $7,770 – $8,050 million and adjusted earnings per share to increase by 21 – 23% to a range of $11.55 – $11.95 for the full year 2022."

The full year 2022 financial guidance assumes:

US dollar to Euro exchange rate of $1.15.
An effective tax rate of circa 16.5%.
Days Sales Outstanding of circa 25 – 30 days.
Circa $1bn free cash flow and capital expenditures of circa $150 million.
No share repurchase or M&A activity included in the above guidance.
With respect to 2021, the company reaffirmed its current guidance of revenue in the range of $5,430 – $5,530 million and adjusted earnings per share in the range of $9.55 – $9.75.

Targovax ASA: Targovax awarded NOK 8.2m grant by Innovation Norway

On January 12, 2022 Targovax ASA (OSE: TRVX) a clinical stage immuno-oncology company developing immune activators to target hard-to-treat solid tumors, reported that Innovation Norway has awarded Targovax an NOK 8.2m grant to accelerate product development activities related to the company’s TG mutant RAS vaccine program and planned clinical trials (Press release, Targovax, JAN 12, 2022, View Source [SID1234598627]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Awarded by: Innovation Norway
Granted amount: NOK 8.2m
Time frame: 2022-2024

Kristin Willoch Haugen, Director of Innovation Norway Oslo Viken, commented: "Through this project Targovax and their partners aim to solve an important part of the great, international societal challenge that cancer represents. Innovation Norway has awarded a significant grant to reduce the development risk in the project, which we believe has a high level of innovation and a great potential for value creation in Norway. The Research Council of Norway has also contributed with funding to this exciting project. "

Dr. Erik Digman Wiklund, CEO of Targovax, added: "We are very pleased to be awarded yet another prestigious grant towards our mutant RAS vaccines, this time from Innovation Norway. Targovax’s TG program is set up to develop innovative novel immunotherapies that target critical mutations in KRAS, a key driver of around 30% of all cancers. With the support from Innovation Norway, we have now secured a total of up to NOK 18m in grant funding, which will allow us to move the TG program forward faster and more broadly, and thus bring benefit to a patient group with poor prognosis and few available treatment options."

GenomOncology Pathology Workbench to Support OmniSeq INSIGHT℠, a Genomic and Immune Profiling Test That Identifies Potential Treatment and Clinical Trial Options for Solid Tumors

On January 12, 2022 GenomOncology reported that GenomOncology (GO) Pathology Workbench has been selected by Labcorp’s OmniSeq to support the analysis and reporting of OmniSeq INSIGHT℠, a comprehensive genomic and immune profiling test for solid tumors (Press release, GenomOncology, JAN 12, 2022, View Source [SID1234598644]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

OmniSeq INSIGHT combines genomic and immune profiling to comprehensively characterize a patient’s tumor to identify potential treatment and clinical trial options. OmniSeq INSIGHT examines the full coding region of 523 genes by next generation sequencing for mutations, copy number alterations, fusions microsatellite instability (MSI), tumor mutation burden (TMB), and expression of 64 immune genes in the tumor microenvironment. The test also includes PD-L1 by immunohistochemistry.

"Our partnership with GenomOncology has advanced our ability to efficiently classify variants, match therapies and identify trials located within 200 miles of the patient’s home," says Shengle Zhang, MD, Laboratory Director of OmniSeq. "This highly customized laboratory information system supports OmniSeq’s competitive turnaround time of matched precision medicine options to ordering clinicians for their cancer patients."

To streamline variant review, interpretation, and case reporting, OmniSeq implemented the highly customized GO Pathology Workbench. Central to the GO Pathology Workbench’s function is a proprietary, algorithmically-driven database of evidence and guideline-based therapeutic options and clinical trials. The results are displayed in the comprehensive OmniSeq INSIGHT test report.

"The adaptability and versatility of the GO Pathology Workbench enabled us to efficiently customize the workbench to accommodate the unique features of the OmniSeq INSIGHT test. By providing the knowledge and evidence needed for effective variant interpretation, GO Pathology Workbench provides a tool to support OmniSeq INSIGHT’s swift turnaround time," said Matt Stachowiak, PhD, Director of Product Management at GenomOncology.

In June 2021, Labcorp (NYSE: LH), a leading global life sciences company, acquired OmniSeq. OmniSeq INSIGHT is available to U.S.-based clinicians exclusively through Labcorp, and across Canada through Dynacare, a Labcorp company. The test is also available to global biopharmaceutical companies exclusively through Labcorp Drug Development. For more information about OmniSeq INSIGHT, visit oncology.labcorp.com/omniseq.

Lantern Pharma Expands Precision Oncology Collaboration with the National Cancer Institute – Accelerating Path to First in Human Clinical Trials for Drug Candidates LP-184 & LP-284

On January 12, 2022 Lantern Pharma (NASDAQ: LTRN), a clinical stage biopharmaceutical company using its proprietary RADR artificial intelligence ("A.I.") platform to transform the cost, pace, and timeline of oncology drug discovery and development, reported it has expanded its collaboration agreement with the Developmental Therapeutics Branch (DTB) of the National Cancer Institute (NCI) of the National Institutes of Health (Press release, Lantern Pharma, JAN 12, 2022, View Source [SID1234598628]). The expansion of this collaboration comes after identifying several gene signatures that predict a potential response of a patient’s tumor to Lantern’s drug candidates, LP-184 and LP-284. LP-184 is being pursued as a new therapy across a range of genetically defined solid tumors, including pancreatic cancer and GBM (Glioblastoma Multiforme). LP-184 was presented as a novel agent effective in GBM at SNO (Society of Neuro-Oncology) in November of 2021. LP-284 is being developed as a new therapy for certain leukemias and lymphomas as presented for the first time in December at the 2021 ASH (Free ASH Whitepaper) Annual Meeting.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"This expanded collaboration with the NCI is further evidence of the power of combining multiomic data with our A.I. platform, RADR, to accelerate the cost-effective and biomarker guided development of targeted oncology therapies," stated Dr. Kishor Bhatia, Chief Scientific Officer of Lantern Pharma. "We look forward to publishing our first in human Phase 1 results in peer-reviewed publications and bringing our potential cancer therapies to patients through the power of A.I. and data."

The first phase of the collaboration with the DTB Genomics and Pharmacology Facility at NCI successfully identified biomarker correlations from multiomic NCI datasets that will be used to guide the accelerated development of Lantern’s drug candidates. The biomarker correlations are being used for LP-184 and LP-284 to: 1) uncover insights into the mechanisms of action 2) develop a signature predicting the response of a tumor, 3) prioritize the sub-types of cancer most likely to respond in a manner that would improve the current standard of care and, 4) generate data and models to guide the selection of other approved drugs that can be used in combination with LP-184 and LP-284.

The second phase of the collaboration will leverage the data and functionality provided by NCI’s complementary CellMiner and CellMinerCDB platforms to examine additional multiomic data for more accurate and powerful drug response correlation. This phase will also include data from Project Achilles at the Broad Institute, which is integrated into the CellMiner platform, to compare how Lantern’s complete drug candidate portfolio compares with other anti-cancer drugs under specific genetic and molecular conditions. The additional data and expanded analytic toolbox, including epigenetic, proteomic and microRNA data types, will enable Lantern to further refine multiomic signatures predictive of drug efficacy into a curated list of candidate biomarkers. These biomarkers can be utilized in gene editing and CRISPR technology studies to derisk development decisions and validate additional therapeutic strategies. Lantern will be using this rigorous approach to guide future development initiatives for itself and for potential development and commercial partners.

"The data generated from this collaboration will further advance and scale the capabilities of the RADR A.I. platform for potentially breakthrough drug discovery and development," stated Panna Sharma, CEO of Lantern Pharma. "The new data will drive insights and drug-candidate innovations and also lead to additional biopharma collaboration and partnership opportunities."

Lantern and the NCI expect to publish the research results of this collaboration in peer-reviewed journals. Early data indicates the uniqueness of the correlation of LP-184 with PTGR1 expression compared to other therapeutic agents in the database. Gene correlation comparisons between LP-184 and other DNA targeting agents support LP-184’s potential as a more effective drug candidate in tumors that show resistance to other DNA targeting agents, including synthetic lethal agents.

The data types in the NCI datasets included, DNA mutation, mRNA/ miRNA expression, DNA methylation, DNA copy number and protein data. This data was then used to characterize Lantern’s pipeline of drug candidate and their bioactivity profiles through NCI’s CellMiner platform. These multiomic analyses have provided deeper insights into the mechanism of action, efficacy profile and optimal cancer indications for Lantern’s pipeline of drug candidates in preclinical and clinical development. This analysis has aided in the accelerated development of the DNA damaging agents LP-184 and LP-284. Initial work helped identify several hundred genes whose transcript levels significantly correlated both positively and negatively with pan-cancer sensitivity to LP-184. Additional correlations were found for LP-284 that aided in targeting subsets of blood cancer indications. The expression of PTGR1, which was among the strongest correlations, reinforced a critical component underlying LP-184 sensitivity and was further validated in vitro and in vivo across several tumors.

Several negatively correlated genes confirmed the enhanced LP-184 sensitivity in tumors that harbor compromised DNA repair pathways. For example, the negative correlation of LP-184 sensitivity with methylation of MGMT substantiate the potential for higher sensitivity of LP-184’s efficacy in MGMT methylated tumors – an important therapeutic refractory feature in glioblastomas. The availability of multiomic data such as methylation data and protein data continue to support areas of applicability of such correlations.

LP-184 is being developed for multiple targeted oncology indications. Lantern Pharma intends to further advancing LP-184 as a new, potent treatment option in genetically defined subsets of patient populations in areas of high unmet clinical need, including pancreatic cancers, GBM, and other cancers that are DNA damage repair deficient. The U.S. Food and Drug Administration (FDA) granted LP-184 Orphan Drug Designation for the treatment of pancreatic cancer and GBM and other malignant gliomas in August 2021. LP-284 is expected to be developed for multiple hematological indications, including several rare sub-types of leukemia and lymphoma.

MYND Life Sciences Announces Collaborative Research Agreement with the University of British Columbia

On January 12, 2022 MYND Life Sciences Inc. ("MYND" or the "Company") (CSE: MYND) (OTC: MYNDF) a biopharmaceutical research and development company creating innovative precision medicines for patients with relentless neurological diseases, reported that it has entered into Collaborative Research Agreement (the "Agreement") with the University of British Columbia ("UBC") focussing on Novel Therapies for Neurological Diseases (Press release, University Of British Columbia, JAN 12, 2022, View Source [SID1234598646]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

MYND is creating safe and effective precision medicines based on proprietary technologies, targeting intractable diseases affecting the Central Nervous System, aiming to improve the standard of care for patients. This research seeks to test new compounds, including Psilocybins which may modify neurological diseases. Through 38 Health Canada licenses issued under their Section J exemptions of the Food and Drug Act issued to the UBC Laboratory, MYND possesses the enviable ability to examine the unique actions of analogues of Psilocybin. The focus is to develop, validate and patent the ability of Psilocybin-based drugs to modify outcomes in disease.

"We are very excited to announce our second Collaborative Research Agreement focussing on diseases of the brain," stated Dr. Lyle Oberg, MYND’s Chief Executive Officer. "We have a unique opportunity to improve the wellness and quality of life of millions of people and families torn apart by the tragedy of dementia and other debilitating diseases of the Central Nervous System. The MYND management team has a wealth of scientific, clinical and operational experience, and is well networked within the pharmaceutical industry. The Psilocybin sector is rapidly transitioning to become a pharmaceutical industry and MYND holds a unique position within the sector in terms of building upon our unique intellectual property and a valuable portfolio of related patents","

The Company has a broad development pipeline, including advancing clinical programs, such as novel biomarkers for depression and MYND is expecting results from its pivotal trial to validate these biomarkers. Through its subsidiary MYND Diagnostics INC., this includes conducting an adaptive dose finding single phase 2b clinical trial funded by the Australian Government of the efficacy and safety of psilocybin assisted psychotherapy ("PAP") in the treatment of people diagnosed with treatment resistant depression ("TRD") in collaboration with clinical researchers at Monash University. Furthermore, MYND anticipates entering clinic trials with three additional programs in the course of 2022/2023. After progressing to clinical proof of concept, MYND will continue to have the option to enter into partnerships for late-stage development and commercialization.

"We are continuing to translate our innovative approaches, while maintaining our scientific excellence," stated Dr. Wilfred Jefferies, Chief Science Officer at MYND. "We have unique technologies with differentiating potential and access to state-of-the-art facilities. This funding will allow us to accelerate our research dramatically leading to more rapid translation of our studies. This is a really exciting time for MYND and our team."

DEPARTURE OF AN OFFICER OF THE COMPANY

MYND’s Chief Operating Officer, Jordan Cleland, is moving on from the company to pursue other professional opportunities effective the end of day, January 11, 2022. Cleland was MYND’s first hire in August of 2020 and provided operations set up and support in the formative months of the company. Cleland’s duties will be assumed by Dr. Chahaat Singh who will assume the role of Operations and Research Manager with MYND. Dr. Singh has a Ph.D. in Medical Genetics, a M. Sc. In Microbiology, and brings a wealth of research experience to the position. Singh has biotech industry experience with the firms IMTech and Panacea and recently co-authored an article in the Lancet dealing with Alzheimer’s Disease. Mynd would like to thank Mr. Cleland for his dedication to the company and wishes him well in his future endeavours.